Iran Establishes Two Shipping Lanes in Strait of Hormuz Amid Reports of US-Iran Deal to Ease Blockade-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Iran Establishes Two Shipping Lanes in Strait of Hormuz Amid Reports of US-Iran Deal to Ease Blockade

Deep News05-07

Iran's Islamic Revolutionary Guard Corps Navy has announced the designation of two maritime routes for vessel passage in the Strait of Hormuz. Concurrently, Middle Eastern media, citing informed sources, report that the United States and Iran have reached a consensus to ease maritime blockades and gradually reopen the strategic waterway. The news triggered a sharp decline in international oil prices.

According to reports from Iranian media on the 7th, the Iranian naval force has specified two lanes for ships. Vessels are still prohibited from transiting the Strait of Hormuz without authorization from Iran.

Previously, reports cited by Middle Eastern media indicated that Iran and the US had agreed to ease the American-led maritime blockade in exchange for a phased reopening of the Strait of Hormuz. However, this information has not been officially confirmed by either government.

Following the announcement, international oil prices extended their losses. Brent crude oil fell by as much as 3.0% during the day, trading at $97.98 per barrel. Expectations of a truce and the potential lifting of the Hormuz blockade are exerting direct downward pressure on energy prices.

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